2019 GDP forecast - IMF

Lagos

Nissan Assembly Plant

Peugeot Assembly plant kaduna

Ford assembly plant

CNHTC truck assembly plant Kano

Stallion group. Assembles Nissan, Hyundai, Iveco and Volkswagen in Nigeria.

Ibrahimanis:
2019 GDP forecast - IMF

Kenya almost catching up with Angola. Why is Angola's GDP shrinking though?

NairobiWalker:


Kenya almost catching up with Angola. Why is Angola's GDP shrinking though?

Yet to recover fully from the 2016 oil recession.

Daejoyoung:

Yet to recover fully from the 2016 oil recession.

We will be ahead of them by the end of 2020, definitely.

NairobiWalker:


Kenya almost catching up with Angola. Why is Angola's GDP shrinking though?

Due to exchange rate. Kwanza lost some values,the same thing happened to Ethiopia. Angola have been producing the same things but their currency let them down.That is how foolish its to measure a country's success on GDP.

Daejoyoung:

Yet to recover fully from the 2016 oil recession.

Thank you, I can already see a bitter Southern neighbor fuming over it with his exchange rate bullshit just because his country isn't doing so well.

Pwapwapwapwa...

These are cows who don't know how special forces operates..

Ibrahimanis:
2019 GDP forecast - IMF

it's only an account of the growth in the number of commercial transactions in the economy. It's not a very good measure to understand development of a society. It is also highly value-neutral, which can be a bad thing. i actually dont subscribed to it. the commercial activity of china is 20 times bigger than that of qatar and United arab Emirates in combine. yet, this tiny nations(citizen's )are living larger than life.

NairobiWalker:


Kenya almost catching up with Angola. Why is Angola's GDP shrinking though?

Recession and it's not growing fast enough.

Daejoyoung:

Yet to recover fully from the 2016 oil recession.

Still contracted in first half of 2018 again when oil price wobbled a bit. A true Petro economy.

vaxx:
it's only an account of the growth in the number of commercial transactions in the economy. It's not a very good measure to understand development of a society. It is also highly value-neutral, which can be a bad thing. i actually dont subscribed to it. the commercial activity of china is 20 times bigger than that of qatar and United arab Emirates in combine. yet, this tiny nations(citizen's )are living larger than life.

China's GDP is greater than Qatar's in absolute numbers but remember China has 1.3 billion people while Qatar has only 2.6 million. Check the per capita GDP and you'll understand.

vaxx:
it's only an account of the growth in the number of commercial transactions in the economy. It's not a very good measure to understand development of a society. It is also highly value-neutral, which can be a bad thing. i actually dont subscribed to it. the commercial activity of china is 20 times bigger than that of qatar and United arab Emirates in combine. yet, this tiny nations(citizen's )are living larger than life.

Emmmm I already know that.

Ibrahimanis:

Recession and it's not growing fast enough.



Still contracted in first half of 2018 again when oil price wobbled a bit. A true Petro economy.

The oil in Angola has been kind of a curse even though it's the only reason Angola is in the top 10 Africa's economies. It took them to Civil war and now their economy is too dependent on it.

NairobiWalker:


China's GDP is greater than Qatar's in absolute numbers but remember China has 1.3 billion people while Qatar has only 2.6 million. Check the per capita GDP and you'll understand.

i am even combining the two nations. Qatar and UAE. The per capita GDP is simply the total GDP divided by the number of persons. It mentions nothing about the levels of equality and inequality. Chances are, that in a small country, per capita GDP might still be quite high even if the average standard of living is not. but in qatar and UAE . The standard of living is also high.

vaxx:
i am even combining the two nations. Qatar and UAE. The per capita GDP is simply the total GDP divided by the number of persons. It mentions nothing about the levels of equality and inequality. Chances are, that in a small country, per capita GDP might still be quite high even if the average standard of living is not. but in qatar and UAE . the standard of living is also high.

Combining Qatar and Kuwait is a joke in comparison to China. Those two countries are not even the size of a mid-sized City in China so, no deal still. Just do the GDP per capita. Qatar has $63k and China has only $9k.

While GDP might not give the exact living standards of a country, it gives the size of its economy. You should note though even inequality withstanding, there is a level beyond which a country can have better standards of living than it's counterpart with higher GDP per capita. South Africa is for instance more unequal than Nigeria but still, it has way better standards of living than Nigeria.

Innoson Automated Plant

Ibrahimanis:
2019 GDP forecast - IMF

So Kenya reclaims largest east africa economy again beating ethiopia

tylann:

So Kenya reclaims largest east africa economy again beating ethiopia

Kenya already beat Ethiopia in 2018.

NairobiWalker:


Thank you, I can already see a bitter Southern neighbor fuming over it with his exchange rate bullshit just because his country isn't doing so well.

We will double they economy very soon
Let him wallow in jealous
It won't change the fact that Kenya GDP is equal to eac countries GDP combined

NairobiWalker:


Kenya already beat Ethiopia in 2018.

East Africa economic giant indeed

Ibrahimanis:
Innoson Automated Plant

Does your govt buy innoson vehicles

NairobiWalker:


ICombining Qatar and Kuwait is a joke in comparison to China. Those two countries are not even the size of a mid-sized City in China so, no deal still. Just do the GDP per capita. Qatar has $63k and China has only $9k.

i am aware of this, and mind you not Kuwait, i mean UAE. i just said the gdp per capital does not factor in equality and inequality. therefore putting us in limbo.

While GDP might not give the exact living standards of a country it gives the size of its economy. You should note though even inequality withstanding, there is a level beyond which a country can have better standards of living than it's counterpart with higher GDP per capita. South Africa is for instance more unequal than Nigeria but still, it has way better standards of living than Nigeria.

it gives a value neutral of the size of the economy. if today, i decide to change my eating habit as a Nigerian ( meaning, if i stop cooking my own meal and decide to eat from restaurant, it will immideatly contribute to the commercial activity of Nigeria. it is not a practical demonstration of an economic welfare.

South africa has one of the highest in HDI in africa and has a very well developed industrial base. It also ranked highest on the prosperity index for 4 of the last 5 years (and second for 2016). (Meanwhile Nigeria is very low in this category.

tylann:

Does your govt buy innoson vehicles

Yes

tylann:
Does your govt buy innoson vehicles

I think so.

vaxx:
i am aware of this, and mind you not Kuwait, i mean UAE. i just said the gdp per capital does not factor in equality and inequality. therefore putting us in limbo.

it gives a value neutral of the size of the economy. if today, i decide to change my eating habit as a Nigerian ( meaning, if i stop cooking my own meal and decide to eat from restaurant, it will immideatly contribute to the commercial activity of Nigeria. it is not a practical demonstration of an economic welfare.

South africa has one of the highest in HDI in africa and has a very well developed industrial base. It also ranked highest on the prosperity index for 4 of the last 5 years (and second for 2016). (Meanwhile Nigeria is very low in this category.

Fortunately, that's true for most third world countries and most African countries in that case. All in all, food contributes a tiny amount to the GDP generally and monetizing the whole of it won't really push a country much up above much richer countries. On average though, countries with higher GDP per capita have better living standards - there is of course some variance but it is always within a reasonable range. There is no way for instance a country with a GDP per capita of $10,000 will have lower living standards than that of $2000.

NairobiWalker:


Fortunately, that's true for most third world countries and most African countries in that case. All in all, food contributes a tiny amount to the GDP generally and monetizing the whole of it won't really push a country much up above much richer countries. On average though, countries with higher GDP per capita have better living standards - there is of course some variance but it is always within a reasonable range. There is no way for instance a country with a GDP per capita of $10,000 will have lower living standards than that of $2000.

For better assessment of standard of living in a country, GDP is not a sufficient measure. Human Development Index, Gini coefficient, are some of other measures to do that. Each index constitutes different information. One single index is never advised. and in this category, Ghana is ahead of both Nigeria and Kenya.

GDP assumes too much, it assumes all growth is good growth.for example, the pollution of the water in Nigeria due to oil exploration, the clean up will be added to GDP, as is the health care cost. But clearly that is a negative for society, even as it is a positive for GDP.

i agree that no one number could possibly serve as a good measure of an economic system. Any statistic involves choices about what to measure, what to include, how to weight those inputs, and what to exclude. For a Nigeria system of 180 million people and billions of dollars, no number could possibly capture the variety of experiences and vagaries of output and growth. GDP is a usual measure, but we rely on it far too much, that it to tell us things it cannot.